Business Exits By Industry
Selling a Compost Business
Selling a compost business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a compost business sale works.
Success is a factor of preparation, execution and a keen eye for the market. But for business sellers, the process begins with having the right mental attitude.
Signs You're in Over Your Head
Many compost business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your compost business. The emotions of a sale are complicated by the fact that it may take time to locate the right buyer and the final sale price may be less than you think your compost business is worth. Although it isn't easy, you can mitigate the emotional impact of a compost business sale by setting realistic expectations before you list your business.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. In a compost business sale, knowledge is power -- the more you know about your business and prospective buyers, the easier it is to sway negotiations in your favor. But great negotiation begins with knowing yourself. What is the realistic price range for your compost business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
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